Gear’s break-up and delisting lowballs minority investors and does nothing for the environment
Elevated profitability at its thermal coal unit could support development of new businesses that do not face ESG pressures
WHEN shares in Golden Energy and Resources (Gear) suddenly swooned last Tuesday (Nov 8), I grumbled to my newsroom colleagues that they had crashed one of the best-performing stocks I happen to own.
Earlier that day, The Business Times had published a news report and a commentary about coal companies possibly facing financing risks as banks become increasingly concerned about environmental, social and governance (ESG) issues.
The news report and commentary – which specifically referenced Gear – said that coal companies might have to restructure themselves and offload assets that could become stranded as funding dries up.
TRENDING NOW
Things to know about DBS’ incoming chairman Anthony Lim
DBS eyes prime brokerage business as Q3 profit falls 5% on weaker trading income
Royal Group and Sunset Hospitality abandon plans to open Casa Mett hotel off Orchard Road
George Yeo adds 100,000 Wilmar shares at S$2.97 apiece, taking stake to over 1 million shares